It’s Official: Medtronic is Buying Covidien for $43 Billion

The deal is done. Medtronic ($MDT) is buying Covidien ($COV) for $42.9 billion. The deal is an “inversion” which means that Medtronic will move its HQ from Minneapolis to Ireland where corporate taxes are much lower.

Medtronic will pay $93.22 per share for Covidien. That’s a 29% premium to Friday’s close. The deal is in cash and stock.

Posted by on June 15th, 2014 at 8:01 pm


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